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BusinessFX

User Guide March 2019

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Index

Table of Contents

1GettingStarted.......................................................................................................................................3

1.1 What is BusinessFX Remittance System............................................................................................3

1.2 Business Overview ............................................................................................................................3

1.3 System Prerequisites.........................................................................................................................3

BusinessFX Functionality:

2.1: Customer login.................................................................................................................................4

2.2: Beneficiary addition/deletion..........................................................................................................5

2.3: Initiating transfer............................................................................................................................12

2.4: Payment confirmation....................................................................................................................15

2.5: Transaction slip..............................................................................................................................16

2.6 Online Terms & Conditions acknowledgement……………………………………………………………………………18

2.7 Indicative quote check………………………………………………………………………………………………………………..20

Miscellaneous

3.1 FAQs.................................................................................................................................................21

3.2 Basic system troubleshooting..........................................................................................................24

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1 Getting Started:

System prerequisite: Recommended browser is Chrome, IE 11 (or above).

Key Features:

Online Foreign Exchange (FX) Quotes

Real-time Payments and Transfers

Transaction History for tracking payments

One-Time Beneficiary Registration

One Time Password (OTP) for added application security

Single/ multiple signatory workflows as per customer requirement

1.1 How can a user navigate to Business FX platform?

Business FX is hosted on Corporate Internet Banking (CIB) website

https://www.icicibank.co.uk/#

Under login section, click on Corporate or Business to navigate to CIB login page.

Functionality:

2.1: Customer login

Customer has to enter Corporate ID.User ID & Password in login section to proceed

further. (as shown below)

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Landing Page of BusinessFX(as shown below)

2.2: Beneficiary addition

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Customer needs to click on Single payment option under Initiate payment section and fill all

the mandatory fields to register beneficiary on platform.

We have separate customized beneficiary addition module for adding beneficiary details for

one time registration. Following are the various modules:

1. Module for adding beneficiary having account with ICICI Bank UK

2. Module for adding beneficiary having account with ICICI Bank in India

3. Module for adding beneficiary having account with Non-ICICI Bank in India

4. Module for adding beneficiary having account with any bank across the globe

Click on Manage Payee tab to add beneficiary: (as shown below)

Further click on Add beneficiary tab to register beneficiary :(as shown below)

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Now Under beneficiary type dropdown, customer has the customized beneficiary addition

module for adding beneficiary details for one-time registration. Following are the various

modules:

1. Module for adding beneficiary having account with ICICI Bank UK

2. Module for adding beneficiary having account with ICICI Bank in India

3. Module for adding beneficiary having account with non-ICICI Bank in India

4. Module for adding beneficiary having account with any other bank across the

globe

Taking through the beneficiary registration process for adding beneficiary having account

with any other bank across the globe below:

Customer needs to select “An account with any other bank” in beneficiary type dropdown

and fill all mandatory details (fields highlighted (starting with vertical red bar) are

mandatory.) to register beneficiary(as shown below)

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For capturing SWIFT details of Bank, customer has option to choose SWIFT and select

records. There is search lookup option available as well to get SWIFT details. So for

example, customer has SWIFT search option available based on either of SWIFT code, Bank

Name, city, country, branch (as shown below)

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Once customer will submit all the beneficiary details, it will direct to approval page for

registration of beneficiary where customer need to input OTPand register beneficiary.

Customer will get appropriate confirmation message on screen accordingly.

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In case of single user workflow i.e (single user company), customer will get confirmation

message “Counterparty is approved successfully” (As shown below)

Customer have option to delete existing beneficiary at any point of time. Under Add

beneficiary section, customer can select “Delete Payee” under Action tab dropdown to

delete beneficiary.

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In case of maker-checker workflow i.e (multiple user company), customer will get

confirmation message “Counterparty addition waiting for corporate user approval” along

with list of approvers who can approve this record of registration of beneficiary. (As shown

below)

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For registering this beneficiary, approver has to login to CIB and navigate to Home section

and approve pending on me records using dropdown mentioned in Action. Customer can

select multiple records for approval just by checking tick box against it. Once approved,

customer will get confirmation message “Counterparty is approved successfully” (As shown

below)

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2.3: Initiating transfer

Customer needs to click on Single payment option under Initiate payment section and fill all

the mandatory fields to initiate transaction on Business FX platform.

We have separate customized payment module for doing transaction. Following are the

various modules:

1. Transfer to my own account with ICICI Bank UK

2. Transfer to any beneficiary having account with ICICI Bank UK

3. Transfer to any beneficiary having account with ICICI Bank India( Payments in INR

only)

4. Transfer to any beneficiary having account with Non-ICICI Bank India(Payments in

INR only)

5. Transfer to any beneficiary having account with any bank across the globe

(For swift/ wire transfers to India and other countries)

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Taking through the payment process for transfer to any beneficiary having account with any

bank across the globe below:

Customer needs to click “An account with any other bank” and fill all mandatory details

(fields highlighted (starting with vertical red bar) are mandatory.) to register beneficiary. (as

shown below)

Select From & To account from dropdown. As soon as customer selects From account it will

fetch and reflect balance.

Customer first needs to select either “SELL” or “BUY” currency and then fill Amount

accordingly. Also, Purpose of transfer is dropdown to be selected.

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Once customer will submit all the details, it will direct to approval page for transfer where

customer need to input OTP and move to final quote page to submit transaction.

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Customer will see live rate on final confirmation page along with timer. Customer can click

on “RE-QUOTE” button to fetch live rate again once the time is over as per the timer..

Customer will get appropriate confirmation message on screen once he clicks on Confirm

payment.

Payment confirmation:

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Transaction slip: Customer can navigate to transaction page and under Action dropdown,

he can further who has initiated transaction along with time stamping .Also, on clicking

Transaction reference number client can view transaction details and download transaction

slip.

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2.6 Online Terms & Conditions acknowledgement

Customer will get online pop-up on screen regarding terms and condition for using

Business FX (forex conversion service). This is one time activity before initiating 1st

transaction. Once customer agrees by selecting “I agree” option, the same will get

captured and customer can now access complete Business FX functionality.

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2.7 Indicative quote check

Customer has this add-on feature to check current market rate for various currency pairs.

Customer needs to click on the “Indicative foreign exchange rate” tab (as shown below).

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Customer just needs to fill transfer amount after selecting the currencies from

dropdown and click on “GET INDICATIVE QUOTE” button for live market rate of

respective currencies. Please note this is live market rate, the term indicative is used

as this rate might vary by the time customer actually goes to transfer page to lock

rate and initiate transaction.

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3.1 FAQs

What is Business FX transfers Service?

FX transfer Service provides a consolidated platform for the straight-through processing of

FX transfer and SWIFT payments. Users can add beneficiaries online, perform FX

conversions and route payments on a real time basis. Users can also view transaction

history for all successful transactions.

What all currencies are allowed for FX transfer service?

Users can convert funds from their current account in USD, EUR, GBP, CHF,AUD,SGD (as

source currencies) to USD, EUR, GBP, HKD, INR, AUD, SGD, CAD, JPY,AED,SEK,CHF (as

destination currencies). Users can simultaneously remit funds in the destination currencies

to beneficiaries across the globe through the SWIFT network.

What is the transaction limit and daily transaction limit for each Client?

Our standard transaction limit & daily transaction limit for cross currency transfers are USD

100,000 USD 250,000 respectively for each client. However, these limits are subjected to

change as decided by ICICI Bank from time to time.

What is the advantage of FX transfers service?

You have Multi-currency online remittance platform for FX transfers.

You can access live FX rates to perform FX conversions and payments through Swift

network will be routed to the beneficiary bank on a real time basis.

You can have easy access to transaction history with the facilities of saving and

printing the Advice slip.

How can I enroll for FX transfers service?

For enrolment, please contact your Relationship Manager

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Can I enter the buy/sell amount in the destination currency?

Yes, User has an option to enter the buy/sell amount in either source or destination

currencies while doing transaction

Where can I check indicative FX rates without going to transfer page?

Yes, Users can check indicative FX rates via "Indicative Foreign Exchange Rate" feature.

What will be the value date of the forex transaction that I would be initiating?

The value date would be the same day for the transactions initiated before cash cut-off of

currency and would be the next business day in case transaction is initiated after cash-cut

off of currency. Cut-off timings for currencies will be decided solely by ICICI Bank. For

further details, you can speak to your Relationship Manager

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3.2 Basic system troubleshooting

Please make sure the Recommended browser is Chrome, IE 11 (or above) for accessing

the CIB UK login instance.

Business FX is hosted on Corporate internet banking website

https://www.icicibank.co.uk/#

Under login section, click on Corporate or Business to navigate to CIB login page.

How to troubleshoot application slowness issue?

It is recommended to clear cache and browsing history in case customer is facing

application slowness issue in navigating different tab.

Navigate to settings of browser-----click on Advance

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Further select clear browsing data------click on clear data from beginning

(Browsing history, cache &cookies) to troubleshoot.

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Kindly re login to CIB application once this is completed.